RateGain Travel Tech soars after turnaround performance in Q2 FY23

7 Nov 2022 , 03:41 PM

Revenue rose by 47% YoY to Rs 124.61 crore during the quarter. While employee expenses increased by 26% YoY to Rs 57.97 crore, other expenses rose by 41.1% to Rs 49.06 crore in Q2 FY23. Adjusted EBIDTA zoomed to Rs 18.95 crore in Q2 FY23 from Rs 7.03 crore in Q2 FY22. Adjusted EBIDTA margin was 15.2% in Q2 FY23 as against 8.3% in Q2 FY22. The company posted a pre-tax profit of Rs 15.66 crore in the second quarter as against a pre-tax loss of Rs 1.38 crore in the same period last year. RateGain Travel Tech said that while the global business environment continues to be driven by high costs and inflation, Q2 FY23 saw the company report its highest operating margin in the last 10 quarters at 15.2%. Increased traction across marquee relationships, operating leverage, and new client additions continue to drive revenue growth and pipeline momentum. Bhanu Chopra, founder and chairman, RateGain Travel Technologies, said, ?We continue to deliver on our promise of responsible growth and with operating leverage unfolding, we are delighted to report our highest operating margin in the past 10 quarters. This has been achieved by expansion of existing relationships while costs remained flat. Our focus on solving critical industry challenges continues with the launch of our new offering- Engage AI, that will help hotels address staff shortages while delivering guest delight. Demand continues to remain strong across the travel & hospitality space and we are seeing healthy traction across all business segments.? Tanmaya Das, chief financial officer, RateGain Travel Technologies, said, ?Our revenue growth continues at a healthy pace with more broad-based growth across all three segments. We witnessed another quarter of healthy performance across key KPIs contributing to all round growth and margins. The growing pipeline and strong client addition despite a volatile global environment, highlights the strength of the travel industry and the adoption of tech products to drive revenue.? RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with over 2400 customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. Powered by Capital Market – Live News